Riddle me this one Batman

[Razorguns]

Okay - so we get into a recession because

1) mortgages were easy to get
2) demand rose, prices rose
3) people couldn't pay their high mortgages.

Okay fair enough. Then this:

"approve of a tax credit that would cover up to 10% or $15k on the purchase of a house/home."

http://www.nytimes.com/2009/02/05/us/politics/05stimulus.html?_r=2

WTF? Make it easier to buy homes = increase demand, prices go up again, mortgages get written again, credit scores/income are looked the other way, and back to square one we go.

Obama and his masters, once again encourage people to buy houses, prices to stay high, and in danger yet again of not paying their mortgages when they lose their jobs.

Are politicians REALLY that stupid, or they just do whatever their masters tell them, no matter how stupid and insane?

Let the housing boom begin again. Yeah for the stimulus!!

r

 

[canadianhitman]

It really is sad...they've learned NOTHING.

Want to fix your country's fucked up lending practices? Replace the monkeys you have running your banks with someone with experience in a major Canadian bank, and implement that model for lending. Problem solved.

 

[Razorguns]

How do you fix people buying houses they can't afford...

by helping them buy more houses!!!

Way to go Obama!! Way to listen to your masters! Good boy, rollover, sit.

r

 

[goin on 4T]

Well not start a discussion but homes are actually affordable now where they were not months and years ago to those that still have jobs.

 

[Razorguns]

Well not start a discussion but homes are actually affordable now where they were not months and years ago to those that still have jobs.

Audience Quiet. 10 points and for the grand prize what's behind door #3 ...

What do you think happens to house prices once the supply of people with pre-approved mortgages show up.

r

 

[Cutiebaby]

Obama is a genius.
Stop being jealous that you cannot have such good plans like him!

 

[canadianhitman]

Obama is a genius.
Stop being jealous that you cannot have such good plans like him!

Please tell me this is sarcasm...

 

[Basic_wonder]

Everyone can say 'told you so' after the 5th or 6th stimulus plan that doesn't work, just gotta leave it alone and it will fix itself .....

 

[guest username]

The only people who have money to buy homes and who can get a mortgage now are people who make >$80,000 year. (I'm just estimating here, but follow along with me.)

The current $7,500 tax credit must be paid back and also doesn't apply to those making >$75,000/year.

The one that just passed has no income limit. Therefore the people with money will hopefully buy houses because they can now knock $15,000 off the tax that they owe.

 

[Razorguns]

The only people who have money to buy homes and who can get a mortgage now are people who make >$80,000 year. (I'm just estimating here, but follow along with me.)

The current $7,500 tax credit must be paid back and also doesn't apply to those making >$75,000/year.

The one that just passed has no income limit. Therefore the people with money will hopefully buy houses because they can now knock $15,000 off the tax that they owe.

Nobody lies on those forms.

r

 

[jaybois]

Aint gonna be another housing boom anytime soon Instead look for the commercial market to start collapsing.

 

[hanselthecaretaker]

Okay - so we get into a recession because

1) mortgages were easy to get
2) demand rose, prices rose
3) people couldn't pay their high mortgages.

Okay fair enough. Then this:

"approve of a tax credit that would cover up to 10% or $15k on the purchase of a house/home."

http://www.nytimes.com/2009/02/05/us/politics/05stimulus.html?_r=2

WTF? Make it easier to buy homes = increase demand, prices go up again, mortgages get written again, credit scores/income are looked the other way, and back to square one we go.

Obama and his masters, once again encourage people to buy houses, prices to stay high, and in danger yet again of not paying their mortgages when they lose their jobs.

Are politicians REALLY that stupid, or they just do whatever their masters tell them, no matter how stupid and insane?

Let the housing boom begin again. Yeah for the stimulus!!

r

All that low income housing stimulus money. Basically just using our money to pay for greed mongers' fuckups. Sometimes I think the only way this country will get better is to wipe the whole slate clean, Fed n all.
Wall Street's bonus rate since the 80's is 10-15 times greater now than back then, and that's after adjusting for inflation. They deserve it though with the great job they've been doing right!?

 

[Razorguns]

All that low income housing stimulus money. Basically just using our money to pay for greed mongers' fuckups. Sometimes I think the only way this country will get better is to wipe the whole slate clean, Fed n all.
Wall Street's bonus rate since the 80's is 10-15 times greater now than back then, and that's after adjusting for inflation. They deserve it though with the great job they've been doing right!?

A bunch of angry homeowners protested outside the home of Morgan Stanley CEO's mansion in CT.

NONE of the media outlets carried the story. It was on NBC for 5 minutes then taken down (don't believe me? google it).

The powers that be don't want people like you getting any ideas. lol! The rules of this country ain't letting that happen.

The borrow and consume nature that is the cornerstone of the american economy, can either end swift and hard - or it can be dragged out forever, then end swift and hard by Obama. The crash will be carried out by a big drop in standard of living. And oh yeah, it's already happened. Look out the window.

r

 

[javaguru]

I don't understand the attempt by the government to artificially prop up a market that was inflated to begin with, it's time for correction pain...Obama wants to pursue the same old failed policies of the Bush admin...

 

[Razorguns]

I don't understand the attempt by the government to artificially prop up a market that was inflated to begin with, it's time for correction pain...Obama wants to pursue the same old failed policies of the Bush admin...

9/11's, etc. mean nothing to people not affected by it. Economy, jobs, peoples money are important. They will riot in the streets if they have to. Peoples paychecks are the most important thing in their lives.

Obama rode on hope, promise, change. And if people start losing their jobs, standard of living drops, etc. the 'pitchfork moment' is coming. Obama could very well embarass african americans (99.9% who voted for him) for the rest of their lives.

r

 

[javaguru]

9/11's, etc. mean nothing to people not affected by it. Economy, jobs, peoples money are important. They will riot in the streets if they have to. Peoples paychecks are the most important thing in their lives.

Obama rode on hope, promise, change. And if people start losing their jobs, standard of living drops, etc. the 'pitchfork moment' is coming. Obama could very well embarass african americans (99.9% who voted for him) for the rest of their lives.

r

I constantly posted that he is a typical politician, I don't judge people by the color of their skin. He's hedging his bets, blaming Bush and the Repubs in case his plan fails....which it will...but he will blame Bush...

 

[Razorguns]

I constantly posted that he is a typical politician, I don't judge people by the color of their skin. He's hedging his bets, blaming Bush and the Repubs in case his plan fails....which it will...but he will blame Bush...

If Obama had run against a real leader instead of McCain who was a horrible speaker (unlike Obama's fiery rock star speeches) and a tabloid-darling hockey mom - he never would've won.

Blame the GOP. Ron Paul would've destroyed Obama, and would've been kicking ass right now instead of starting SocialistFest 2009.

r

 

[maldorf]

Aint gonna be another housing boom anytime soon Instead look for the commercial market to start collapsing.

My wife is a comercial realestate lender for a major bank and they are really feeling the pinch. Just took a 5% pay cut and no bonus from last year now.
There is a major project in our city that was started about 1 year ago and all construction has been stopped. Now the building just sits there with no funding. No sign as to when it will ever be finished. Probably at least 10-20 million in it so far and it just sits.